Pakistan and Binance sign a memorandum of understanding for the use of public assets in blockchain $BNB

Pakistan and the global digital currency company Binance have signed a memorandum of understanding today, under which the possibilities of managing public financial assets in a more transparent and efficient manner through modern blockchain technology will be explored.

Federal Minister of Finance Senator Muhammad Aurangzeb and Binance Head Richard Teng signed the agreement. According to officials, under this project, ways will be found to present some public assets of the country, such as government bonds, treasury bills, and government reserves, more transparently and effectively through blockchain.

The primary aim of this project is to enhance access to investment in the country and to make the financial system more transparent. However, legal approval will be required for any final decision, as the value of these assets could be around two billion dollars.

Under the memorandum of understanding, Binance will provide Pakistan with technical assistance, training, and consultancy so that the government can better understand the benefits of this technology.

Addressing the ceremony, Finance Minister Muhammad Aurangzeb stated that this agreement is an important step in Pakistan's economic reform journey, and the government wants to make swift progress on this project.